CATEGORIES

Tata Steel Q1 Profit More Than Doubles

Tata Steel has reported a 112.76 percent year-on-year rise in consolidated net profit at 1,954.02 crore for the quarter ended June 30. The company had posted a profit of 918.40 crore in the same quarter last year.

Infra, Product Development To Drive Steel Demand Growth: Insdag

Economic performance of India and structural reforms are unleashing the potential for growth of steel demand in India.

Chinese, Indian Demand Boost Oct Coking Coal Offers

The seaborne coking coal market rose in October 2018 on firm demand from China and India and tighter supply, according to market sources.

Iron Ore Prices To Remain Stable In November

Domestic Iron Ore Production Is Projected To Grow By 5 Percent In 2018-19

How To Meet Coking Coal Challenges?

Union Steel Minister Chaudhary Birendra Singh recently said that producing quality steel could help India compete with China, even though the latter’s total production is around 8-9 times that of India’s.

Not Much Progress Made In Saved Licences

Hindustan Zinc is India’s largest and the world’s second largest zinc-lead miner. The company is a subsidiary of Vedanta Limited which owns 64.9 percent stake while the Government of India retains its 29.54 percent. The demand for zinc in India is good with 70 percent of it coming from the galvanising sector which is witnessing a rising penetration of galvanised steel in domestic car models. The on-going restructuring of the steel industry and adherence to the upcoming IS277 coating standards bode well for zinc consumption in India. Apart from already having invested $2 billion, the company plans to invest another $2 billion in 3-5 years’ time, Sunil Duggal, CEO & Managing Director, Hindustan Zinc Limited and President, Federation of Indian Mineral Industries (FIMI), tells Madhumita Mookerji. Excerpts from an interview.

Ferrous Wheel

India’s ferro alloys industry being squeezed by weak demand, high power cost and difficulty in accessing local mineral resources.

IOT, AI The Next Big Thing In Construction Technology Industry

With around 70 percent growth seen in the first half of 2018, construction equipment maker CASE Construction is eyeing the Centre’s ambitious programmes like Bharatmala and Sagarmala, state and rural road development and maintenance projects, railways, Metro Rail development among others. These projects have had a positive impact in terms of increased demand of construction equipment. The estimated sales of construction equipment in the first half of 2018 increased by 33 percent as compared to 2017, but a similar growth trend may not be supported in the second half of 2018, Ajay Aneja, Brand Leader, CASE Construction, tells Ritwik Sinha. Excerpts from an interview:

Surplus Iron Ore Stocks Clearance Can Enhance Output, Says FIMI

India has surplus iron ore stockpiles of around 151 million tons of various grades up to 62 percent Fe grade at mine heads which can be evacuated and monetised via exports to enhance production capacity, said R K Sharma, Secretary General, Federation of Indian Mineral Industries (FIMI).

November Slowdown For Motown As Sales Take Backseat

India’s autoville suffered a heavy blow in terms of November sales as the country’s top car makers like Maruti, Hyundai, Tata Motors, Toyota and Ford all saw degrowth in sales. However, bucking the trend, Mahindra and Honda saw double-digit sales growth.

Dry Bulk Cargo Freight Rates To Stay Flat In Short Term

Although Q4 outlook looks bleak, significant improvement is expected in the Baltic Dry Index, particularly from the latter part of 2019 on lower fleet growth prospects

Required: A Paradigm Shift In Mineral Policy

India has vast economic potential in the mineral sector owing to its significant and diverse mineral resources.

Seaborne Coking Coal Offers Plummet In July

Seaborne coking coal offers plunged in July 2019 amid muted demand from China and India, industry sources said. Overall sluggishness in the steel market worldwide influenced coking coal demand, they said.

SAIL Modernisation, Expansion Project On Verge Of Completion

Steel Authority of India, which returned to profit in FY1 9 after posting losses for three consecutive years, is set to achieve another milestone by completion of its moderisation and expansion plan, chairman Anil Kumar Chaudhary has said.

RINL Starts Heating Of Coke Oven Battery 5

State-run Rashtriya Ispat Nigam Ltd (RINL) started heating up of Coke Oven Battery-5.

India Well-Positioned In Global Chrome Alloys Market

India’s chrome alloys industry seems to be well-positioned amidst two factors. One is an apparent tug of war that is being played out on the global platform between two key players – the South African suppliers of chrome ore and chrome alloys and the Chinese buyers of chrome.

RINL Soft-Pedals On 11-mt Expansion Plans

Entry into flat products segment part of future strategy.

Ferro Alloy Industry Braces For Competition From SE Asia

The domestic ferro alloys industry is bracing to tackle competition from Malaysia and Indonesia, even as it grapples with higher power costs at home to meet growing demand.

India's Apr-Aug Sponge Iron Production Marginally Up

India’s gross sponge iron production rose 1.4 percent to 10.33 million tons (mt) in April-August 2017, up from 10.19 million tons in the same period last year, provisional steel ministry data showed.

India Starts Dumping Probe Into Bar, Rod Imports

The government has initiated an anti-dumping probe into imports of straight length bars and rods of alloy steel from China following complaints from the domestic industry, industry sources said.

Traffic Handled By Major Ports Up 3% In Apr -Aug 2017

The 12 major Indian ports handled 273.96 million tons (mt) of total traffic during April-August period of 2017, about 3.26 percent higher than 265.3 mt recorded during April-August, 2016, according to data released by the Indian Ports Association (IPA).

India's Per Capita Steel Consumption Touches 63 Kg in FY16

The per capita consumption of total finished steel in India has risen from 58 kg in 2011-12 to 63 kg in 201516, according to the latest year-end review of the Ministry of Steel (MoS).

Tata Steel Ijmuiden Orders New Continuous Slab Caster

Tata Steel IJmuiden BV, a Dutch steel producer, has awarded Primetals Technologies an order to supply a new continuous slab caster.

US Proposed Steel Import Duty May Boomerang

It needs to be seen whether proposed US steel import duty hike turns out to be boomerang for Oval Office? As per experts, in the ensuing trade war among nations after this hike, it could be US industry itself which could be feeling the real pinch with European Union (EU) already mulling 25 percent import duty on US products.

Primetals Implements New Spare Parts Management Concept At ARBZ

Primetals Technologies received the order from Aktobe Rail and Section Works LLP (ARBZ) to implement its new spare parts management concept at the Kazakh company´s rail and section mill in November 2017.

NMDC Q3 Standalone PAT Up 49%

NMDC reported a 48.90 percent increase in standalone profit after tax (PAT) at ₹886.53 crore for the quarter ended December 2017 as compared to ₹595.16 crore in the corresponding period last year, the company said in a BSE filing.

SAIL Swings Into Profit In The Third Quarter

Steel Authority of India posted a net profit of ₹43.16 crore in the third quarter of the current financial year (Q3FY18) against a loss of ₹794.84 crore in Q3FY17.

Traffic Handled By Major Ports Up 4.6% In Apr-Jan

The 12 major Indian ports handled 560.97 million tons (mt) of total traffic during April-January, 201718, about 4.58 percent higher than 536.41 mt recorded during April-January, 201617, according to data released by the Indian Ports Association (IPA).

Industry 4.0 At Infant Stage In Foundry Sector

The Indian government ’scampaign regarding ‘Make in India’ is a wellmeaning slogan and with good intentions. In true sense it is possible to realise the goals only if we can compete globally in terms of quality, pricing and an ability to deliver on time and every time, consistently.

Coking Coal Offers Rise In February

After a steady decline in January, seaborne coking coal prices recorded gains in February 2018, supported by concerns over the weather condition in Queensland, Australia, and demand for prompt cargoes before the Chinese New Year holidays, according to market sources.